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Agreed. Borrowing excessively to allow people who aren't pulling their weight to enjoy life will send us down the debt spiral, and it'll just make things worse later down the track when the debt bubble pops; the government defaults on its debt obligations; our credit rating plummets as a...

Did I say I finished high school? But yea you're right I laugh everytime I speak to 20 year olds and most 30 year olds too hahahahaha... but of course I don't actually laugh out loud, I just laugh at them secretly.

True that. Time will tell. Gen Ys as a generation will just fail miserably. I think most will end up as sweepers or something like that Oh I should add most of my Gen X mates buy in the same places I think of too. But of course it all comes down to what you can afford.

As a typical Gen Y, I have serious qualms about living so far. As most of you would know, Gen Ys like to have everything now, the best things now, the closest, hippest places now. So Werribee is not really for me. I would much rather buy/live in Carlton or Fitzroy in a small double storey...

Yea unfortunately am being priced out quite badly. Went to this house on St Georges the other day with a friend; can't believe they wanted $15m as a starting price for 1,500 sqm. It's not like it's a great street or anything and cars keep driving over the roundabouts - can't afford that anyway...

Oh not long to go before 30. Definitely not 10 years. Maybe more like 6 or so? Will have to check my birth date against a graphics calculator I recently used in my maths exam for VCE when I get a spare moment

Hey don't worry. If I do retire at 30, I'll be over 28 so more than qualified to give advice hohoho, so no one should have a problem.

I know... what's the world coming to? Don't worry my grandma is like 96 and I'm just listening to her, so it's really her advice I'm telling you. She always says in this funny voice "Aiii tallll yuuuuu keeeeed, ze murkutttt ish goin' bunkkkkersss" But we should always listen to... hmm... dunno...

http://www.theage.com.au/business/property/review-for-house-market-20100421-szzf.html?autostart=1 IMF sees housing bubble in Melb!!!! Woooosh

My plan is actually to retire before 28, but that's looking less likely. Might have to push it out to 30. So I might not have that 10-15 years before retirement

Well I must say my experience has been 50:50. Also know plenty of bankers with several properties and debt to their eyeballs

Not questioning your credentials. Am asking you a question because I forgot if you're an M&A banker, an ECM executioner or a trader? Secondly, was asking your opinion since it's always good to see what the vibe at different tier-1 investment banks are across different divisions. Can tell you at...

Cmon you're an investment banker and look at this stuff all the time yea (or was it derivatives trader)? You should be telling me why ... or perhaps there is no reason why? That's why I'm concerned. Do you believe in the China bubble?

A lot of people knew subprime was coming in 2007. I was in Hong Kong at a leture with an American debt securitisation visiting professor and he was telling us subprime was going to take America down. I knew about subprime May 07 already and liquidated. I remember on another stock forum and...

Yea refinancing doesn't help yea? Having that cash just means I can gear up more. If prices fall then by gearing up more my debt will be bigger than the value of the houses?

A crash is definitely around the corner. I'm starting to think about liquidating it all. When all is greedy, fear, fear a lot. One economic shock and we'll all be wiped out.